$5 Million Seized From BitCoin Company Mt. Gox

Not long ago we reported that some BitCoin companies were subpoenaed by the New York State Department of Financial Services. However, we now found out that the U.S. government went after BitCoin a few months earlier in May when it seized more than five million dollars from Mt. Gox, the largest BitCoin company in the industry. Federal agents reportedly seized $2.1 million from the company’s account with Dwolla, $2.9 million from their Wells Fargo account, and $50,000 from CEO Mark Karpeles’s personal account. The money was taken after a judge ruled there was probable cause that Mt. Gox transmitted money without a license. It’s not much money, considering Mt. Gox was at one time making $6 million a day in trades. Although the seizure sets a precedent against BitCoin in the US that lets BitCoin companies know they better have the right paperwork in order to deal within the St...